EDMONTON, ALBERTA--(Marketwired - March 13, 2017) - Radient Technologies ("Radient" or the "Company") (TSX VENTURE:RTI) today expressed its support for the industry-leading product testing disclosure initiative of its joint research partner, Aurora Cannabis Inc. ("Aurora") (TSX VENTURE:ACB)(OTCQB:ACBFF)(FRANKFURT:21P)(WKN:A1C4WM).
On March 9, Aurora introduced the cannabis sector's most comprehensive product testing disclosure process, providing its clients and the general public with access to a simplified Certificate of Analysis (CoA) for every cannabis product available for sale on the Aurora's menu. Subsequent to Aurora's initiative, similar guidelines and standards were announced by Cannabis Canada Association, the leading organization for Health Canada Licensed Producers of cannabis.
Today, Radient announced that, as the only facility in Canada developing high-throughput cannabinoid extraction capability, while maintaining the Good Manufacturing Practice (GMP) requirements of a Natural and Non-Prescription Drug Directorate (NNHPD) Site License, the Company supports Aurora's initiative, and will provide support to ensure certification and disclosure of test results on products developed and produced utilizing its ground-breaking high throughput, terpene-preserving technology.
"We strongly support Aurora's product testing and certification protocols within the developing medical marijuana industry," said Denis Taschuk, CEO of Radient. "Ensuring patient confidence in the purity and safety of the cannabis products they consume is, in our view, a prerequisite for a properly functioning market. The already encouraging results of our collaboration with Aurora, coupled with our rigorous Quality Management System ("QMS") ensuring strict quality control and quality assurance prior to the release of products for commercial distribution, are well aligned with Aurora's efforts towards greater transparency. We congratulate them on their leadership in this area."
As previously announced, Radient and Aurora entered into a memorandum of understanding ("MOU") to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts. The second phase of the study commenced in February, 2017 and is expected to be completed in late April, 2017.
"We are pleased to have found in Radient a partner whose QMS and commitment to transparency and product safety complement our own," added Terry Booth, CEO of Aurora. "We look forward to reporting on our joint progress in the development of a potentially ground breaking extraction technology for the key market of cannabis concentrates."
Radient extracts natural compounds from a range of biological materials using its proprietary MAP™ natural product extraction technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its initial 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health, personal care and biofuel markets. Visit www.radientinc.com for more information.
On behalf of the Board of Directors,
RADIENT TECHNOLOGIES INC.
Denis Taschuk, President and CEO
Prakash Hariharan, Chief Financial Officer
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. The forward-looking statements include statements about the Offering and the use of proceeds thereof. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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